News & Events zu Crane Co (CR)CRCrane Co

Company Raises Sales Growth Outlook to Mid-20%

Consensus $6.82. Total sales are now expected to grow in the mid-20% range, up from our prior guidance of low-to-mid-20%, driven by acquisitions and core sales growth of 5-6%, which is now expected to be at the high end of our prior 4-6% guidance range.

Crane Reports Q2 Revenue of $724.7M

Reports Q2 revenue $724.7M, consensus $706.07M. Alex Alcala, Crane's President and Chief Executive Officer, stated: "We delivered record quarterly results which exceeded our expectations, reflecting strong execution across the company. Aerospace & Advanced Technologies generated better-than-expected growth, demand at Process Flow Technologies remained stable, and all four recent acquisitions are performing ahead of plan. Combined with 5% core sales growth and strong operating leverage across all businesses, these results underscore the quality of our portfolio and the effectiveness of our operating model."

Equity Futures Slightly Up, Tech Stocks Perform Strongly

Equity futures have reopened slightly higher, with S&P e-minis and Nasdaq 100 contracts both trading up a decimal, following headlines that Iranian negotiators have submitted another proposal to regional mediators, offering a halt on attacking ships in the Strait of Hormuz in exchange for a full end to the war.  Energy markets are not budging in preserving a geopolitical premium to start the week however, with WTI Crude Oil still trading north of $95 per barrel.  In precious metals, Gold and Silver prices continue to trade sideways above $4,700 and $75 per ounce respectively.With earnings season ramping up this week, investors remain focused on the broadbased rally in the Tech space of late.  Semiconductors in particular have outperformed, with the VanEck  Semiconductor ETFnow up a whopping 40% from its late-March lows.  Nvidiaset new record highs today above $215  per share, while Alphabet'srecord high above $350 propelled Communication Services to the top of S&P 500 sectors for the day.  Consumer Defensive sector - one of the worst performers over recent weeks and months - remained under pressure, with outsized losses seen among the "dollar-store" names Dollar Treeand Dollar General.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Bed Bath & Beyondup 27.2%Kforceup 21.1%Sanmina (up 13.8%LendingClubup 13.8%Solaris Energy Infrastructureup 13.0%Craneup 6.6%Nucorup 3.8%Cadenceup 1.0%DOWN AFTER EARNINGS -Rambusdown 11.2%Celesticadown 8.5%Ranger Energy Servicesdown 6.0%Amkor Technologydown 3.1%ALSO LOWER -Erascadown 37.1% after disclosing preliminary dose escalation data for ERAS-0015Qiagen N.V.down 5.5% after Q1 pre-announcement